The snakeyest understanding ever: Malaysia Airlines-AirAsia 'share swap' deal
They contend the design is worth the thousand words. The laugh upon Tony Ular Fernandes tells the thousand tell. But theres some-more to just the grin. If any the single care to demeanour during this design in roughly all dailies in the nation this morning, there is the single glaring point which the strong summary is being sent.
There have been three Fernandess logos in the backdrop; Tune Air, AirAsia as well as AirAsia X BUT there is usually Malaysia Airliness logo, stand alone. The organisers of this signing rite do not even have the insolence to embody Firefly as well as MASWings logos upon it.
Of course, so most persons additionally asked because should CIMBs logo upon it as well? They have been just the advisers. They have been not stakeholders.
On interest of most Malaysians as well as our readers here in BigDogDotCom, you usually have questions. No answers as well as most of us started the guessing game. So who ever is close sufficient to Khazanah management as well as of course the advisers to this share barter understanding for Prime Minister Dato Seri Mohd. Najib Tun Razak, greatfully answer these questions:
1. Where is the beef for Malaysia Airlines in this share barter deal?
Seriously, Fernandes as well as friends get to own 20.5% of Malaysia Airlines, dual unequivocally strategic seats upon the BOD as non-executive as well as non-independent directors, seats in the Exco which will confirm upon operations as well as all decisions involving income as well as roughly assistance themselves to the entire Malaysia Airlines as they like.
They already longed for to kill the growingly renouned Firefly, which is Malaysia Airliness approach hazard to AirAsia.
2. If this is share barter deal, because isnt! any of Malaysia Airlines BOD member(s) get to be upon AirAsia BOD?
This is something strange. If this is the true share-swap deal, afterwards who is representing Malaysia Airliness strategic interests in ! AirAsia. If there is none, how come?
3. How come Khazanah did not designate any the single who have had relevant airline attention knowledge as non-executive-independent director in Malaysia Airlines BOD?
There have been unequivocally experienced former airliners in likes of Tan Sri Bashir Ahmad Abdul Majid who is now MD for Malaysia Airports Bhd., who was an Executive Vice President in Malaysia Airlines not so prolonged ago as well as persons similar to these wealth of knowledge must come unequivocally handy for Malaysia Airlines. Unless Khazanah feels which the retired banker or the satelite broadcaster is the some-more valuable personality to be in.
4. What is the worth add for Malaysia Airlines in this share barter deal?
Malaysia Airlines have bigger general networks across five continents,codeshares as well as recent membership to One World alliance. That is though deliberation the actuality which MH flies to unequivocally sassy destination similar to London Heathrow, Tokyo Narita as well as Los Angeles International, which AirAsia dont. So what is it with AirAsia which Malaysia Airlines would good from?
5. What is it in for Malaysia Airliness 20,000 employees?
What would these people get from the share barter understanding as well as what will turn of them. Will they still have the job after Fernandes have been done with his butchery?
6. Who else benefited from this share-swap deal?
Last though not least, who have been the parties which good from this upon top of Fernandes, his partner Kamaruddin Meranun as well as the advisory price CIMB?
AirAsia's stock the fi! nal 6 mo nths
Rumour has it which Fernandes threatened to pierce his HQ to Jakarta was job the bluff. More rumours about the little people pushing up AirAsias shares from RM 2.40 6 months ago to RM 3.60 final week, so which they share barter understanding could be two-for-one.
Malaysia Airlines
Now compare which to Malaysia Airliness 6 months ago price level. It was roughly the same.
From where you have been standing, it looks unequivocally suspicious. The modus operandi was similar when ECM Libra longed for to eat up four times larger Avenue Capital Bhd, The sardine starting after the shark. Well, they were very successful with the authorities subsidy them up. Santayana pronounced which people who did not sense for their past mistakes have been cursed to repeat which again. In thisshare-swap understanding which was roughly similar to the pirate raid, was inked in the manner probably because the majority of us unsuccessful to take note of what had happened in the past.
There is the single thing rare about Malaysia Airlines, which should be pondered. For all the conspiracy theory pundits; former Chairman Tan Sri Dr Munir Majid was sent in the couple of months prior to AirAsia went attend of Bursa Malaysia. Conveniently, he exited the couple of weeks back. Please do the math.
We would similar to to quote The Edges reporting upon what Khazanah Managing Director Tan Sri Azman Mokhtars take upon the share-swap deal:
Azman pronoun! ced the contract has been pragmatically structured in which the business models, brands, boards, governance structures as well as cultures will remain graphic as well as separate, though is now complemented by the comprehensive collaboration frame (CCF) work.
They (the dual airlines) have been not combining, though competing in the little cases as well as collaborating in the little cases. Can you imagine the power of MAS thirteen million passengers as well as AirAsias 39 million passengers the year. This is the unequivocally powerful combinati! on.
< p>We dont have time anymore to demeanour during petty things as well as differences. Its time to go forward, he added.In addition, Khazanah additionally proposed to acquire 10% of AirAsia X upon terms as well as during the price to be jointly agreed later. Azman pronounced this would be done quickly, adding which its investment in the aviation sector currently accounts for about 3% of its portfolio.
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This 10% merger of AirAsia X is outward the share barter deal. So the Thirteen Million Plus Ringgit subject is:
1. How much is the merger will burn Khazanahs coffer?
2. Will CIMB be partial of this merger advisory?
3. Will this acquisition, if as well as when it happens, be done well known to public?
Malaysia Airliness tagline used to be, Going over expectation. Khazanah unequivocally gave Fernandes this tagline to come through. And for PM Flip-Flop Tun Abdullah Ahmad Badawi to play this adviser role in seeing both parties get to broach what they have been ostensible to is the unequivocally pathetic joke.
*Updated 2330hrs
- bigdogdotcom
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